This site uses cookies. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. For more information, please see the ProZ.com privacy policy.
Cookie settings
  1. KudoZ™ Top
  2. French to English
  3. Finance (general)

solidarité active et passive

English translation: joint liability/responsibility (for credit & debts)

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:solidarité active et passive
English translation:joint liability/responsibility (for credit & debts)
Entered by: Stephanie Mitchel

19:23 Oct 11, 2007
French to English translations [PRO]
Bus/Financial - Finance (general) / bank accounts
French term or phrase: solidarité active et passive
The full term is "Compte collectif avec solidarité active et passive (compte joint)." This is on a card to be filled out by the private account holder(s). The country is France. Thanks a lot!
Stephanie Mitchel
United States
Local time: 20:48
joint liability/responsibility (for credit & debts)
Explanation:
or something along those lines. I was just going to post the link for info, but thinking about it the solidarité must mean joint responsibility/liability for both parties holding the account. The bank can get the money back from one, both or either and one party can empty the bank account out!! Always have a bank account in your own name girls ;-)

Le compte commun est un compte collectif avec solidarité passive ET active :

• solidarité passive : la banque peut réclamer la totalité de la dette à un seul co-titulaire du compte.

• solidarité active : un seul co-titulaire pourra réclamer la totalité du solde disponible sur le compte. Si vous souhaitez mettre un terme à votre compte joint, vous devrez en dénoncer la convention selon une procédure préétablie qui ne laisse rien au hasard.

http://www.cosmostreet.fr/pratique/cmp/cm_prat15.asp

Googling joint accounts in English should come up with it....

--------------------------------------------------
Note added at 10 hrs (2007-10-12 06:07:54 GMT)
--------------------------------------------------

or joint liability or responsibility for withdrawals and repayments.

Sounds a bit simpler.

--------------------------------------------------
Note added at 13 hrs (2007-10-12 08:46:27 GMT)
--------------------------------------------------

If my partner leaves me without trace and with an overdrawn account, will I be responsible for repaying the debt?
Yes. Each joint account holder is responsible individually for repaying any debt.

Will I be responsible for cheques signed by my partner on the joint account?
Yes, provided the cheques are signed in accordance with the joint account mandate.

If my joint account is overdrawn, can the bank transfer money from my personal account to clear it?
As a general rule, yes.
http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=260&a=385

6.9 In relation to joint accounts, all of you together and individually are responsible for any money owed to us on the joint account. We may demand repayment from all and any of you for any money owing on the account.
http://www.firstdirect.com/legals/nov_terms.shtml


Joint and Several Liability

Introduction
If you have taken out a credit agreement, loan or have a bank account in joint names (with another person) then you are both liable for the full amount of any debt.

This means that if you have a joint loan with a spouse or partner and one of you fails to repay the debt (this often happens following divorce or separation) then the lender could still ask you for payment of the full amount (not just half).


http://www.insolvencyhelpline.co.uk/legal_issues_explained/j...

'Joint & Several liability' (for withdrawals and repayments)
seems like a good option!

Selected response from:

Julie Barber
United Kingdom
Local time: 01:48
Grading comment
whew!!! thanks julie.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2joint liability/responsibility (for credit & debts)
Julie Barber
5 -1Collective account where co-holders are/are not jointly and severally creditors
Nina Iordache
3plurality of creditors and debtors
Michael Tovbin


  

Answers


42 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
plurality of creditors and debtors


Explanation:
the former is the ability to pay one of several creditors (for the same obligation) the full amount and thereby discharge the debt

the latter is a similar ability to collect

--------------------------------------------------
Note added at 43 mins (2007-10-11 20:06:49 GMT)
--------------------------------------------------

I am thinking also that it means that the rights and liabilities are both joint and several.

Michael Tovbin
United States
Local time: 19:48
Works in field
Native speaker of: Native in EnglishEnglish, Native in RussianRussian
PRO pts in category: 4
Login to enter a peer comment (or grade)

10 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
joint liability/responsibility (for credit & debts)


Explanation:
or something along those lines. I was just going to post the link for info, but thinking about it the solidarité must mean joint responsibility/liability for both parties holding the account. The bank can get the money back from one, both or either and one party can empty the bank account out!! Always have a bank account in your own name girls ;-)

Le compte commun est un compte collectif avec solidarité passive ET active :

• solidarité passive : la banque peut réclamer la totalité de la dette à un seul co-titulaire du compte.

• solidarité active : un seul co-titulaire pourra réclamer la totalité du solde disponible sur le compte. Si vous souhaitez mettre un terme à votre compte joint, vous devrez en dénoncer la convention selon une procédure préétablie qui ne laisse rien au hasard.

http://www.cosmostreet.fr/pratique/cmp/cm_prat15.asp

Googling joint accounts in English should come up with it....

--------------------------------------------------
Note added at 10 hrs (2007-10-12 06:07:54 GMT)
--------------------------------------------------

or joint liability or responsibility for withdrawals and repayments.

Sounds a bit simpler.

--------------------------------------------------
Note added at 13 hrs (2007-10-12 08:46:27 GMT)
--------------------------------------------------

If my partner leaves me without trace and with an overdrawn account, will I be responsible for repaying the debt?
Yes. Each joint account holder is responsible individually for repaying any debt.

Will I be responsible for cheques signed by my partner on the joint account?
Yes, provided the cheques are signed in accordance with the joint account mandate.

If my joint account is overdrawn, can the bank transfer money from my personal account to clear it?
As a general rule, yes.
http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=260&a=385

6.9 In relation to joint accounts, all of you together and individually are responsible for any money owed to us on the joint account. We may demand repayment from all and any of you for any money owing on the account.
http://www.firstdirect.com/legals/nov_terms.shtml


Joint and Several Liability

Introduction
If you have taken out a credit agreement, loan or have a bank account in joint names (with another person) then you are both liable for the full amount of any debt.

This means that if you have a joint loan with a spouse or partner and one of you fails to repay the debt (this often happens following divorce or separation) then the lender could still ask you for payment of the full amount (not just half).


http://www.insolvencyhelpline.co.uk/legal_issues_explained/j...

'Joint & Several liability' (for withdrawals and repayments)
seems like a good option!



Julie Barber
United Kingdom
Local time: 01:48
Works in field
Native speaker of: English
PRO pts in category: 132
Grading comment
whew!!! thanks julie.

Peer comments on this answer (and responses from the answerer)
agree  BusterK: basically both may use the money and the bank can claim from any of the two.
3 hrs
  -> Ta Buster
agree  Daryo
3857 days
Login to enter a peer comment (or grade)

12 hrs   confidence: Answerer confidence 5/5 peer agreement (net): -1
Collective account where co-holders are/are not jointly and severally creditors


Explanation:
IMO

--------------------------------------------------
Note added at 15 hrs (2007-10-12 10:26:56 GMT)
--------------------------------------------------

Collective account where co-holders are individually and ointly and severally creditors

--------------------------------------------------
Note added at 15 hrs (2007-10-12 10:28:36 GMT)
--------------------------------------------------

Sorry for the typo: Collective account where co-holders are individually and jointly and severally creditors

Nina Iordache
Romania
Local time: 03:48
Specializes in field
Native speaker of: Native in RomanianRomanian
PRO pts in category: 24

Peer comments on this answer (and responses from the answerer)
disagree  BusterK: cannot be are and are not !
1 hr
  -> yes, you are right, I modified my answer!
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

Return to KudoZ list

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.

See also:
ProZ.com term search
Search millions of term translations
Close search
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search